Get the latest news on Schindler Holding stock with updates on market trends, financials, and analysis from Benzinga. Stay informed on SHLRF performance

Latest Schindler Holding Stock News | OTC:SHLRF | Benzinga

Switzerland-based Schindler is a top-four global supplier of elevators and escalators. The business generates revenue in three ways: selling new elevators and escalators, modernizing old equipment, and servicing existing installations. Most of the company's profit comes from the last activity, where contracts are rolled over annually with built-in price increases. Ninety percent of its business is in elevators, which are more numerous globally than escalators. Its business model is similar to that of closest competitors Otis, Kone, and TK Elevator.

Schindler Holding AG

Schindler Holding

Schindler Group (OTC: <a class="ticker" href="/stock/shlrf#OTC">SHLRF</a>) and GE Digital (NYSE: <a class="ticker" href="/stock/ge#NYSE">GE</a>) today announced a strategic alliance that will use the full potential of the Industrial Internet for digital innovations in elevators, escalators and smart buildings.

Schindler will leverage GE's Predix platform and GE's proven digital industrial expertise in advanced analytics to further its efforts in the Industrial Internet of Things, predictive analytics, machine learning and in providing smart digital solutions to its users and customers. With Predix, Schindler will enhance its capabilities to monitor, analyze and leverage data generated from its connected elevators, escalators and PORT Technology.

"GE and Schindler can deliver premium digital solutions powering urban mobility. Leveraging the Predix industrial operating system, Schindler is positioned to be a digital industrial leader in the elevator and escalator business," says Mr. Jeffrey R. Immelt, Chairman and CEO of GE.

Comments

Schindler Holding Stock News

News

Latest Schindler Holding Stock News | OTC:SHLRF | Benzinga

Wednesday, July 06, 2016

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga